Cooperation in the IT industry, in the financial and agricultural spheres, development of energy-saving technologies – these were the topics for discussion during the meeting of First Deputy Prime Minister - Minister of Economy of Ukraine Oleksiy Lyubchenko with the Ambassador Extraordinary and Plenipotentiary of Australia to Ukraine Bruce Edwards on October 8 in Kyiv.

"Ukraine is interested in expanding comprehensive trade and economic cooperation with Australia as an important partner in the Pacific Region. In 7 months of this year, the volume of bilateral trade in goods amounted to $117.9 million, which is three times more than in 7 months of last year. But I see prospects for expanding our economic cooperation and strengthening trade ties. Despite the considerable distance that separates our countries, there are areas in which we can fruitfully cooperate now. This is primarily the IT industry, the financial sector," said Oleksiy Lyubchenko.

The First Deputy Prime Minister also noted that it is important to create a joint communication platform for Australian business to learn about investment opportunities in Ukraine: "Ukraine participates in Expo 2020 and presents modern technologies there, we have human capital, intellectual property which can be transformed into a highly intelligent product. There is a huge potential for business in Ukraine - a stable hryvnia exchange rate and a number of areas to invest in."

The Ambassador Extraordinary and Plenipotentiary of Australia to Ukraine Bruce Edwards agreed with the Ukrainian official and noted: "We can stimulate trade and economic cooperation, but we need to overcome barriers - ignorance of Australian business about Ukrainian opportunities and vice versa. We appealed to various organizations to identify areas where cooperation can be strengthened. We are also waiting for the development of further relations within the framework of the WTO conference."

Among other things, the parties discussed current issues regarding the need to introduce energy-saving technologies, intensify work on the development of alternative energy sources. Representatives of Australia praised Ukraine's national contribution to the Paris Charter, according to which Ukraine intends to reduce greenhouse gas emissions to 35% of 1990 levels through decarbonization and the development of renewable energy sources.